Cox & Readman Developments Limited Filleted accounts for Companies House (small and micro)

COX & READMAN DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00939932

Cox & Readman Developments Limited

Filleted Unaudited Financial Statements

31 March 2023

Cox & Readman Developments Limited

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	5	17,442	17,512
Investments	6	300	300
		--------	--------
		17,742	17,812

Current assets

Stocks		18,760	18,760
Debtors	7	1,068,914	896,344
Cash at bank and in hand		297,624	158,843
		------------	------------
		1,385,298	1,073,947

Creditors: amounts falling due within one year	8	939,298		591,439
		------------		------------
Net current assets			446,000	482,508
			---------	---------
Total assets less current liabilities			463,742	500,320
			---------	---------

Capital and reserves

Called up share capital	150	150
Profit and loss account	463,592	500,170
	---------	---------
Shareholders funds	463,742	500,320
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Cox & Readman Developments Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 6 December 2023 , and are signed on behalf of the board by:

J M Hickman

Director

Company registration number: 00939932

Cox & Readman Developments Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Castle Business Village, Station Road, Hampton, Middlesex, TW12 2BX, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Profits and losses

Profits are brought into account on legal completion of sales.

Losses are provided for in the period in which the Company first becomes aware of the likelihood of such losses being incurred.

Land and development

Work In Progress is Land and Development which is valued at direct cost or lower realisable value.

Interest payable

Interest payable is charged in the period in which it is incurred.

Turnover

Turnover represents the gross proceeds of completed sales.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equpment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2022 and 31 March 2023	17,230	1,234	18,464
	--------	-------	--------
Depreciation
At 1 April 2022	–	952	952
Charge for the year	–	70	70
	--------	-------	--------
At 31 March 2023	–	1,022	1,022
	--------	-------	--------
Carrying amount
At 31 March 2023	17,230	212	17,442
	--------	-------	--------
At 31 March 2022	17,230	282	17,512
	--------	-------	--------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2022 and 31 March 2023	300
	----
Impairment
At 1 April 2022 and 31 March 2023	–
	----

Carrying amount
At 31 March 2023	300
	----
At 31 March 2022	300
	----

Investments in 99% owned Subsidiary Companies are made up as follows:

Ordinary Shares of £1 each

Cox & Readman Garages Ltd 99

Ranville Properties Ltd 99

Broadstone Ltd 99

Marprook Property Co Ltd 119

===

Group Accounts have not been prepared as the Group qualifies as a Small Group under Section 398 of the Companies Act 2006. The net profit after tax of the Subsidiaries for the year ended 31 March 2023 was £296,746 (2022 - £95,331) and the retained profits at that date amounted to £1,156,874 (2022 - £860,127). The loan accounts with the Subsidiaries totalling £871,931 (2022 - £524,437) are shown within other creditors in note 9.

7. Debtors

	2023	2022
	£	£
Other debtors	1,068,914	896,344
	------------	---------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Accruals	23,070	23,096
Other creditors	916,228	568,343
	---------	---------
	939,298	591,439
	---------	---------

9. Related party transactions

Loans to companies which are related parties totalling £1,068,428 (2022 - £895,858) are included in other debtors shown in note 8.